This Week
  • The seven Rochester Business Ethics Awards finalists are profiled.

  • Rochester mourns the loss of Larry and Jane Glazer.

  • Vibrant, updated properties can be easier to market than older ones.

  • When Robert Titus joined Innovative Solutions, he "had no idea" he'd become CEO.

  • For Christian Flooring owner Christian Curts, diversification has been a key factor in his success.

  • Robert Linton guides Jazz 90.1 through a new era in media.

M&T subsidiary under federal investigation

Rochester Business Journal
November 12, 2013

M&T Bank Corp. subsidiary Wilmington Trust Corp. is being investigated by federal entities for actions taken prior its acquisition by M&T, the Buffalo-based bank disclosed in a filing Tuesday.

The investigations involve the U.S. Securities and Exchange Commission and the Department of Justice, the bank states in the filing with the SEC. Both investigations began prior to M&T’s purchase of Wilmington Trust.

The acquisition was announced Nov. 1, 2010 and completed May 16, 2011.

The reviews are related to Wilmington Trust’s financial reporting and securities filings. The DOJ investigation also includes certain real estate lending relationships involving the Delaware company’s Wilmington Trust Co. bank subsidiary.

Either investigation could result in civil or criminal penalties or settlements, the filing states.

 (c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google